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As per the press release dated February 13, 2019, Fluence Corporation Limited (ASX:FLC) had made an announcement that the independent test results which were gathered from Stanford, California demonstration plant have been published and validate compliance of the companyâs MABR technology with Californiaâs Title 22 water recycling legislation. As per the release issued, the companyâs MABR demonstration plant has been installed at Codiga Resource Recovery Center (or CR2C) in the Stanford, California as well as the release stated that it has been operational since the month of January 2018.Â
Fluence Corporation Limited stated that Title 22 of Californiaâs Water Recycling Criteria happens to be among strictest water treatment standards when it comes to water recycling as well as reuse in the US. Moreover, the company added that testing parameters consisted the criteria for the evaluation of the reliable enhanced nutrient removal in the form of âTotal Nitrogenâ, which happens to be increasingly important across the US as well as which is difficult and costly to achieve with the help of conventional wastewater treatment. The release issued stated that tests were performed on the wastewater which happens to originate from Stanfordâs campus raw sewage system. The influent had a higher concentration of the nitrogen as well as phosphorous as compared to typical municipal wastewater on account of less dilution from the additional wastewater from other sources. The company stated that the evaluation of Fluence MABR demonstration unitâs treatment performance was done as per 2 benchmarks, i.e. California Title 22 standards for non-potable water reuse (T22) and Total Nitrogen limit of 10 mg-N/L.
Not so long ago, Fluence Corporation Limited had stated that its revenues amounted to US$43.7 million in Q4 FY 2018 which implies the rise of 73% on the YoY basis. The company reported that its gross profit stood at US$16.2 million in Q4 FY 2018 on the unaudited basis. Fluence Corporation Limited had also stated that it witnessed an improvement in the working capital management and the cash usage stood at US$9.7 million which happens to be significantly lower than the forecast for Q4 FY 2018. At the end of December 31, 2018, the company possessed US$38.7 million in the form of cash while US$0.7 million of debt.
We would now understand how the stock of Fluence Corporation Limited is performing today, and it had performed in the past. Today (i.e., February 13, 2019), the companyâs stock price is trading in green as it inched up A$0.005 per share or 1.515% and is trading at A$0.335 per share at the time of writing. The market capitalization of Fluence Corporation Limited stood at $177.33 million. The companyâs stock is trading towards the lower range. In the previous six months, the companyâs stock has delivered the return of -27.47% while, in the time frame of three months, it posted the return of -13.16%. As per the Australian Securities Exchange or ASX, the company is having the EPS of -A$0.209.
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